XM Group Recension av poäng
XM Group
Dear antaran,
I believe that you have misunderstood what kind of activities we are actually referring to in this clause.
This clause is meant to impose legally binding restrictions on those who are not genuinely interested in trading in the financial markets and intend to be engaged in fraudulent activities with use of software that is intended for this sole purpose. Most certainly this does not include expert advisors, scripts or indicators, that traders might use to aid them in trading and conducting market analysis.
Traders are free to use EAs or any other tools that can help them in trading and I can assure that no genuine trader will be affected by this rule. However, use of software that was developed to exploit bugs or inefficiencies is strictly prohibited.
At XM we have created a safe and fair trading environment, and this rule is meant to support our efforts and primarily serve as a warning that fraudulent activities are not being tolerated. I am sorry to hear the you have considered this as an 'attack' but I that hope my answer will resolve your concerns.
Kind regards,
Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
I believe that you have misunderstood what kind of activities we are actually referring to in this clause.
This clause is meant to impose legally binding restrictions on those who are not genuinely interested in trading in the financial markets and intend to be engaged in fraudulent activities with use of software that is intended for this sole purpose. Most certainly this does not include expert advisors, scripts or indicators, that traders might use to aid them in trading and conducting market analysis.
Traders are free to use EAs or any other tools that can help them in trading and I can assure that no genuine trader will be affected by this rule. However, use of software that was developed to exploit bugs or inefficiencies is strictly prohibited.
At XM we have created a safe and fair trading environment, and this rule is meant to support our efforts and primarily serve as a warning that fraudulent activities are not being tolerated. I am sorry to hear the you have considered this as an 'attack' but I that hope my answer will resolve your concerns.
Kind regards,
Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
I am new to this broker, however I have already had the chance to test both negative account protection and withdrawal.
They work.
Regarding future cooperation with them, my concerns and dilemma is the following:
In Terms and Conditions, there is a cloudy part about Artificial Intelligence Software:
'53.2 Artificial Intelligence Software:
It is absolutely prohibited to use any software , which we determine, at our sole discretion, to have as its purpose to apply any kind of artificial intelligence analysis to our Online Trading Facility and/or computer system(s) relating to the use of our Services;<...>Under these circumstances, we reserve the right to seize any profits and/or revenues generated directly or indirectly by exercising any such prohibit trading activity<...>
'
My concerns:
1. it is unusual to refer to artificial intelligence in TCs of Forex brokers, as:
2. unfortunately for the client (traders): all expert advisors might be considered artificial intelligence software because:
3. the term 'sole discretion' is used without any further explanation,
4. please consider that by definition, artificial intelligence (both software and hardware) is aimed at substitute human decisions and
behavior. So each and every Expert Advisor may be suspended and profits confiscated at 'sole discretion'.
My view:
The broker should give enough information for clients which could enable them to make informed decisions like:
1. either decide that this broker is not for them,
2. or to be able to prepare their EAs not to 'harm' the broker and thus risking profits confiscated.
They work.
Regarding future cooperation with them, my concerns and dilemma is the following:
In Terms and Conditions, there is a cloudy part about Artificial Intelligence Software:
'53.2 Artificial Intelligence Software:
It is absolutely prohibited to use any software , which we determine, at our sole discretion, to have as its purpose to apply any kind of artificial intelligence analysis to our Online Trading Facility and/or computer system(s) relating to the use of our Services;<...>Under these circumstances, we reserve the right to seize any profits and/or revenues generated directly or indirectly by exercising any such prohibit trading activity<...>
'
My concerns:
1. it is unusual to refer to artificial intelligence in TCs of Forex brokers, as:
2. unfortunately for the client (traders): all expert advisors might be considered artificial intelligence software because:
3. the term 'sole discretion' is used without any further explanation,
4. please consider that by definition, artificial intelligence (both software and hardware) is aimed at substitute human decisions and
behavior. So each and every Expert Advisor may be suspended and profits confiscated at 'sole discretion'.
My view:
The broker should give enough information for clients which could enable them to make informed decisions like:
1. either decide that this broker is not for them,
2. or to be able to prepare their EAs not to 'harm' the broker and thus risking profits confiscated.
Dear zijlstra,
The loosing trade was performed by a different client and, therefore, this issue will only be discussed with the registered account holder. I can say that this client has also been informed about termination of her account and our backoffice department is handling matters related to the refund of the deposit.
Kind regards,
Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
The loosing trade was performed by a different client and, therefore, this issue will only be discussed with the registered account holder. I can say that this client has also been informed about termination of her account and our backoffice department is handling matters related to the refund of the deposit.
Kind regards,
Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
Nov 18 2015 at 11:05
Can you give also my lost trade back then? Perhaps giving my profit back i will forgive everything.
motorfan1@
zijlstra posted:
This is a bucketshop if you loss they are happy, and if you win they do everything to prevend you to withdraw your profit. It is like a casino. I made only 2 trades, the first one ended in a loss so everything was fine, until my second trade i made some profit everything also fine, until i wanted to withdraw some profit they TERMINATED my account:
Accordingly, we regret to inform you that in accordance with the terms and conditions, we have decided:
to terminate all of your trading account(s);
to cancel trade 2575496;
Out of the blue sky they just cancelled everything! saying i was arbritaging :(, YEAH RIGHT i didnt knew what this was until i googled it up.
SCAMMERS, i will file a suit against them!
Beware if you dont want to lose!
Dear zijlstra,
Your account has been terminated due to serious violations of the Terms and Conditions.
Trading patterns in your account indicate that you in coordination with another client performed opposite trades with a sole purpose of abusing fair trading rules and our bonus promotion. It is clear that your goal was to benefit financially without being genuinely interested in trading in the markets or taking market risk.
Please note that according to the Terms and Conditions such activities are strictly prohibited and always lead to account termination.
Kind regards,
Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
Nov 18 2015 at 07:32
This is a bucketshop if you loss they are happy, and if you win they do everything to prevend you to withdraw your profit. It is like a casino. I made only 2 trades, the first one ended in a loss so everything was fine, until my second trade i made some profit everything also fine, until i wanted to withdraw some profit they TERMINATED my account:
Accordingly, we regret to inform you that in accordance with the terms and conditions, we have decided:
to terminate all of your trading account(s);
to cancel trade 2575496;
Out of the blue sky they just cancelled everything! saying i was arbritaging :(, YEAH RIGHT i didnt knew what this was until i googled it up.
SCAMMERS, i will file a suit against them!
Beware if you dont want to lose!
Accordingly, we regret to inform you that in accordance with the terms and conditions, we have decided:
to terminate all of your trading account(s);
to cancel trade 2575496;
Out of the blue sky they just cancelled everything! saying i was arbritaging :(, YEAH RIGHT i didnt knew what this was until i googled it up.
SCAMMERS, i will file a suit against them!
Beware if you dont want to lose!
motorfan1@
Aug 14 2015 at 14:33
uso XM da 2 anni e sono soddisfatto ,perchè hanno velocità di esecuzione,buoni spread e regolarità nei ritiri di denaro.
mauro benintendi
mauro benintendi
sursum corda
Jul 27 2015 at 12:12
Dear Andrey,
I left a claim? I did not :)
I left a claim? I did not :)
Dear forex1976,
You have left a claim without sharing your MT4 ID. I kindly ask you to follow up with your MT4 ID to initiate an investigation and transparently present the full data of your claims.
Kind regards,
Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
You have left a claim without sharing your MT4 ID. I kindly ask you to follow up with your MT4 ID to initiate an investigation and transparently present the full data of your claims.
Kind regards,
Andrey - Official Representative of XM (Trading Point of Financial Instruments Ltd.)
Jul 25 2015 at 20:46
Signed up yesterday and this is the mail I got today! On a Saturday. Just one day!
At least I don't have to wait 10 days before support tickets are being answered :)
======
Dear Valued Client,
We can confirm good receipt of your necessary Identification documents and that your account is now validated. We are pleased to inform you that you may now proceed to trade and perform all other account related functions.
Please note that you have been classified as a Retail customer in accordance with the Investment Services and Activities Regulated Markets Law 144(I)/2007 and the relevant directives issued therein. This classification has been made on the basis of the information that you submitted in the registration process regarding your trading knowledge and experience. Please note you have the right to request a different classification, either as a professional client or eligible counterparty. For more information please refer to the Client Categorisation section on the website.
Please do not hesitate to contact us if you require any assistance or have any questions, and a member of our team will be happy to help.
========
I'll wait and see how the bonus part will work and withdrawing profits. I will let you know...
At least I don't have to wait 10 days before support tickets are being answered :)
======
Dear Valued Client,
We can confirm good receipt of your necessary Identification documents and that your account is now validated. We are pleased to inform you that you may now proceed to trade and perform all other account related functions.
Please note that you have been classified as a Retail customer in accordance with the Investment Services and Activities Regulated Markets Law 144(I)/2007 and the relevant directives issued therein. This classification has been made on the basis of the information that you submitted in the registration process regarding your trading knowledge and experience. Please note you have the right to request a different classification, either as a professional client or eligible counterparty. For more information please refer to the Client Categorisation section on the website.
Please do not hesitate to contact us if you require any assistance or have any questions, and a member of our team will be happy to help.
========
I'll wait and see how the bonus part will work and withdrawing profits. I will let you know...
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